Home Recent News Prices of Piyalepaşa Istanbul Project to Double in 3 Years

Prices of Piyalepaşa Istanbul Project to Double in 3 Years

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Piyalepaşa Istanbul Foundation Being Laid
Nova Property

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The Piyalepaşa Istanbul project of Piyalepaşa Gayrimenkul (Real Estate), which put in an appearance at the important exhibitions of the world, such as MIPIM and Cityscape Dubai, has also taken its place at Cityscape Turkey.

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Kaan Yücel, managing director at Piyalepaşa project
Kaan Yücel, managing director at Piyalepaşa project

Kaan Yücel, the Managing Director of Piyalepaşa Gayrimenkul, who we also met at the MIPIM exhibition, in the city of Cannes in France, has conveyed his views on the Cityscape Turkey exhibition. Yücel said, “The real estate exhibitions in Turkey had not been very lively, or exhibitions where we had achieved the results we wanted. When Cityscape first came to us we did hesitate a little, but we can see today that foreign participation is very high. There really are a large number of foreigners. And they have come to our stand in significant numbers since the morning. Therefore, we feel that it has been a successful exhibition. We have made appointments with a few people until Monday and Tuesday. It is much better that the exhibition is in Turkey, so that the project can be visited and seen in person.”

Kaan Yücel stated that the sales to foreigners within the project were at a similar parallel to the average in Turkey, and said,

Last year 1,5-2% of property sales were to foreigners, and our sales to foreigners in our project were parallel to these rates. We do not want to sell blocks en masse in any case. As we have designed our project in the concept of a neighborhood, we want there to be a certain percentage of foreigners in this neighborhood too. And at the moment we have achieved that. Last year we had sales after Dubai too. We have received one or two reservations here also. We will see in the coming days if these turn into sales.

Yücel, who drew attention to the location of the project in particular, said, “In large metropolises, the center of the city has always drawn a great deal of interest. Everything built in those areas has gained in value, in time. Today, it is not easy to buy properties in the center of metropolises such as Paris and London. We are in Beyoğlu, in the center of Istanbul. We expect the prices here to rise by very large amounts. Our current sales price is around 8 – 9 thousand per square meter. We expect this to double within three years.”

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